Malaysian ex-PM Najib pleads not guilty on graft charges

Najib Razak's trial was initially due to start in February, but got delayed for procedural matters. (AFP)
Updated 03 April 2019
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Malaysian ex-PM Najib pleads not guilty on graft charges

  • Investigators said Najib associates stole more than $4.5m between 2009 and 2014
  • The ex-PM laundered his money through extravagant purchases

KUALA LUMPUR: Former Malaysian Prime Minister Najib Razak pleaded not guilty during his appearance in court Wednesday for corruption allegations, exactly 10 years after he was first elected to office only to suffer a spectacular defeat last year.
The trial was originally due to start in February but was delayed by procedural matters. There is a chance it may be pushed back again Wednesday as Najib’s lawyers had earlier this week applied to review the top court’s ruling for the trial to begin despite several pending appeals.
Ten years ago this Wednesday, Najib became Malaysia’s sixth prime minister but anger over the 1MDB investment fund scandal led to his electoral loss last May. US investigators say more than $4.5 billion was stolen from 1MDB by associates of Najib between 2009 and 2014. They say the ill-gotten gains were laundered through layers of bank accounts in the US and other countries to finance Hollywood films and buy hotels, a luxury yacht, art works, jewelry and other extravagances.
Some $700 million from the fund that Najib set up for Malaysia’s economic development allegedly landed in his own bank account.
One of only a few Southeast Asian leaders to be arraigned after losing office, Najib has denied any wrongdoing.
The 65-year-old was greeted by a small group of supporters as he arrived at the courthouse. They all bowed their heads in a short prayer before Najib went up to the courtroom.
Wednesday’s trial is the first of several against Najib, who has been charged with 42 counts of criminal breach of trust, graft, abuse of power and money laundering in one of Malaysia’s biggest criminal proceedings. His wife, Rosmah Mansor, also has been charged with money laundering and tax evasion linked to 1MDB. She has also pleaded not guilty and her trial has not been set.
Najib’s son, Norashman Najib, praised his father for his “tremendous strength and resolve.” He tweeted late Tuesday that the trial will be an “excruciatingly difficult period” for his father but that “with the right attitude, even the most trying of situations can be a blessing from Allah.”
The patrician Najib, whose father and uncle were Malaysia’s second and third prime ministers respectively, has fought back with a political makeover on social media that aims to transform his image from an out-of-touch elitist to a leader for the working class.
A Malay-language catchphrase translating to “What’s to be ashamed about, my boss?” was coined while he was campaigning in a by-election last month and has become his new rallying cry. Expensive tailored suits have been replaced by hoodies and jeans. A picture Najib posted on social media showing himself posing on a Yamaha motorcycle with his new “’no-shame” meme resonated with many Malay youths disenchanted by Prime Minister Mahathir Mohamad’s new government.
In another offbeat music video that he uploaded on social media, Najib slammed the new government as “liars” and crooned about the “slander and revenge” against him in a Malay-language rendition of the 1970’s R&B soul hit “Kiss and Say Goodbye” by the Manhattans.
He posts a dozen messages daily, mostly mocking the new government and its policies, and touching on the plight of the needy.
Despite his smiles and “cool” public persona, Najib could face years in prison if convicted.
Once a towering figure in politics, Najib has fallen from grace swiftly since his historic electoral loss, which led to the first change of government since Malaysia’s independence from Britain in 1957.
The new government soon after it took office reopened investigations into 1MDB that had been stifled under Najib. He and his wife were barred from leaving the country and grilled by anti-graft officials, and their properties raided. Truckloads of luggage stashed with cash, jewellery and hundreds of expensive designer bags worth a staggering $270 million were seized from their home and other properties.


Kremlin welcomes US sanctions waiver says US and Russia share interest in stable energy markets

Updated 6 sec ago
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Kremlin welcomes US sanctions waiver says US and Russia share interest in stable energy markets

DUBAI: Russia sees ​a U.S. sanctions waiver on its oil as ‌an ‌attempt ​by ‌Washington ⁠to stabilise ​global energy ⁠markets, and the two countries ⁠have a shared ‌interest ‌in ​this, ‌Kremlin ‌spokesman Dmitry Peskov said on Friday.

"We see ‌actions by the United States aimed ‌at trying to stabilise energy markets. In this respect, our interests coincide," he said.

US Treasury Secretary Scott Bessent announced a temporary authorisation allowing countries around the world to purchase Russian oil currently stranded at sea on Thursday extending a measure that had previously been granted only to Indian refiners.

Bessent stressed in a post on X that the authorisation would not provide significant financial benefit to the Russian government. 

“This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction,” Bessent said on a post on X. 

However, the measure received mix reviews in European capitals, with many fearing it could help replenish Russia's assualt on Ukraine. 

"I am concerned that we are further filling Putin's war chest," German Economy Minister Katherina Reiche said in Berlin on Friday.

Reiche said that she saw both sides to the United States' decision to issue ‌a 30-day ‌waiver ​for ‌the purchase ⁠of ​Russian oil ⁠products, understanding the increasing ecnomic and political turnout from the oil crisis, particurlarly in South Korea and Japan. 

"It seems to me that domestic political pressure in the United ⁠States is very, ‌very ‌high," ​Reiche said.

German ​Chancellor Friedrich Merz was more direct, saying on Friday that it was ‌wrong to ‌ease ​sanctions against ‌Russia ⁠for ​whatever reason. The sentiment was echoed by Norway’s Prime Minister, who also said sanctions should not be eased. 

Oil prices held gains above $100 Friday and most equity markets dropped after Iran's leader called for the blocking of the crucial Strait of Hormuz and the opening up of new fronts in the war against the United States and Israel.

With the conflict heading towards its third week and showing no signs of ending, investors are growing increasingly worried about an extended crisis that could fan inflation and hammer the global economy.